Compared to May 2012, prices also fell short of expectations, rising
12.2 percent from a year earlier. Still, it was the biggest annual gain
since March 2006, matching a record set in April.

The
report was unlikely to alter economists' views that the housing sector
continues to recover, making it a bright spot for the economy.

"The
cities that bubbled in the past are bubbling again," Robert Shiller,
economist and co-founder of the S&P/Case-Shiller Home Price Index,
told "Squawk on the Street" on Tuesday.

"To me, it seems to be at least partly psychological. They've seen it
before and they're ready for it again … It seems like California has
historically been the most bubbly state in the country and it
continues."

Shiller said that the new factor emerging in the
numbers is the effect of institutional investors on home prices.
"They've learned about momentum and they're saying 'hey, this is it.'
The housing market is showing a lot of upward momentum. And you know, I
think they're probably right, at least for the short term."

"For a flipper who can get out in about a year, it seems to be a fairly safe bet," he added.

All 20 cities rose on a yearly basis, led by a 24.5 percent surge in San Francisco.

SPOKANE, Wash. - The 16-year-old boy who shot and killed a man inside a car in downtown Spokane this week thought the safety of the gun was on, according to newly released court documents. Spokane Police were called to a reported shooting in downtown on Tuesday near Washington and Spokane Falls Boulevard.

SPOKANE, Wash. - The 16-year-old boy who police believe shot and killed a man inside a car in downtown Spokane this week thought the safety of the gun was on, according to newly released court documents. Spokane Police were called to a reported shooting in downtown on Tuesday near Washington and Spokane Falls Boulevard.

SPOKANE, Wash. - A woman is recovering at a local hospital with non-life threatening injuries after being assaulted by a man with a baseball bat at a local business Wednesday evening. The suspect, 41-year-old Jeremy Lindholm, has been charged with 2nd degree attempted murder among other charges.

SPOKANE, Wash. - A woman is recovering at a local hospital with non-life threatening injuries after being assaulted by a man with a baseball bat at a local business Wednesday evening. The suspect, 41-year-old Jeremy Lindholm, has been charged with 2nd degree attempted murder among other charges.

NEW YORK - Have you received an annoying robocall saying you won a free cruise? That phone call could get you up to $900 thanks for a recent class action lawsuit. The lawsuit claims Resort Marketing Group (RMG), a third-party travel agency, made pre-recorded robocalls from July 2009 to March 2014 offering free cruises with Carnival, Royal Caribbean, and Norwegian Cruise Line.

NEW YORK - Have you received an annoying robocall saying you won a free cruise? That phone call could get you up to $900 thanks for a recent class action lawsuit. The lawsuit claims Resort Marketing Group (RMG), a third-party travel agency, made pre-recorded robocalls from July 2009 to March 2014 offering free cruises with Carnival, Royal Caribbean, and Norwegian Cruise Line.

SPOKANE, Wash. - When Spokane was hit by a massive windstorm back in 2015, it took its toll on many people. But one family was hit extra hard. During the storm Shanley Heinsma's son let her dog Shadow out of the house, that was the last time she saw her.

SPOKANE, Wash. - When Spokane was hit by a massive windstorm back in 2015, it took its toll on many people. But one family was hit extra hard. During the storm Shanley Heinsma's son let her dog Shadow out of the house, that was the last time she saw her.

SPOKANE, Wash. - The man accused of Attempted Murder after Spokane Police say he beat a woman with a baseball bat Wednesday night made his first court appearance on Thursday. 41-year-old Jeremy Lindholm showed no emotion as a judge handed down a $100,000 bond on Thursday. Lindholm is a local actor whose most recent work includes a role in the Twin Peaks reboot.

SPOKANE, Wash. - The man accused of Attempted Murder after Spokane Police say he beat a woman with a baseball bat Wednesday night made his first court appearance on Thursday. 41-year-old Jeremy Lindholm showed no emotion as a judge handed down a $100,000 bond on Thursday. Lindholm is a local actor whose most recent work includes a role in the Twin Peaks reboot.

SPOKANE, Wash. - Update: Police say a woman is in very critical condition after she and her child were hit by a car around 3:30 p.m. Wednesday. The two pedestrians were initially trapped under the vehicle.

SPOKANE, Wash. - Update: Police say a woman is in very critical condition after she and her child were hit by a car around 3:30 p.m. Wednesday. The two pedestrians were initially trapped under the vehicle.

JACKSON, N.H. (AP) - Maybe these golfers in New Hampshire didn't yell "fore" but they might have considered "llama on the links." Golfers at Eagle Mountain Golf Course in Jackson were joined Monday on the sixth fairway by a llama that escaped from his pen about 2 miles (over 3 kilometers) through some woods. The Conway Daily Sun reports that the pack animal, named Noir, was friendly and got in pictures with the golfers. The fugitive is

JACKSON, N.H. (AP) - Maybe these golfers in New Hampshire didn't yell "fore" but they might have considered "llama on the links." Golfers at Eagle Mountain Golf Course in Jackson were joined Monday on the sixth fairway by a llama that escaped from his pen about 2 miles (over 3 kilometers) through some woods. The Conway Daily Sun reports that the pack animal, named Noir, was friendly and got in pictures with the golfers. The fugitive is

It might still be August, but fall has arrived early in the candy aisle. The early release of pumpkin-flavored foods continues this week with the release of White Pumpkin Pie M&M's. The new M&M's feature a white chocolate and pumpkin pie-flavored coating. Looking to get your hands on a bag before fall officially arrives? They are being sold at Walmart and other large retailers, a spokesperson for M&M's maker Mars confirmed this week to TODAY. The White Pumpkin Pie flav...>>

It might still be August, but fall has arrived early in the candy aisle. The early release of pumpkin-flavored foods continues this week with the release of White Pumpkin Pie M&M's. The new M&M's feature a white chocolate and pumpkin pie-flavored coating. Looking to get your hands on a bag before fall officially arrives? They are being sold at Walmart and other large retailers, a spokesperson for M&M's maker Mars confirmed this week to TODAY. The White Pumpkin Pie flav...>>

BARCELONA, Spain (AP) - The Latest on the Barcelona attack (all times local): 10:10 p.m. A senior police official in Spain's Catalonia region says the van attack that killed 13 people in Barcelona is "connected" to an explosion the night before in a town south of the city in which one person died and injured several more. Police Major Josep Lluis Trapero also gave the nationalities of the two suspects detained Thursday. He said during a news

BARCELONA, Spain (AP) - The Latest on the Barcelona attack (all times local): 10:10 p.m. A senior police official in Spain's Catalonia region says the van attack that killed 13 people in Barcelona is "connected" to an explosion the night before in a town south of the city in which one person died and injured several more. Police Major Josep Lluis Trapero also gave the nationalities of the two suspects detained Thursday. He said during a news

(AP) - The Latest on the car that drove into the sidewalk outside a pizza restaurant in France (all times local): 10:11 p.m. French officials say the driver who steered into patrons of a pizza restaurant east of Paris clearly acted intentionally, but they have no reason so far to suspect a terrorist motive.

(AP) - The Latest on the car that drove into the sidewalk outside a pizza restaurant in France (all times local): 10:11 p.m. French officials say the driver who steered into patrons of a pizza restaurant east of Paris clearly acted intentionally, but they have no reason so far to suspect a terrorist motive.

(AP) - A shade of purple inspired by the late superstar Prince and his custom-made Yamaha piano was announced Monday by the icon's estate. The royal hue created by the Pantone Color Institute was dubbed "Love Symbol #2," paying tribute to the graphic Prince began using as his name in 1993 in a testy battle with Warner Bros. Records over ownership of the master recordings of some of his biggest hits.

(AP) - A shade of purple inspired by the late superstar Prince and his custom-made Yamaha piano was announced Monday by the icon's estate. The royal hue created by the Pantone Color Institute was dubbed "Love Symbol #2," paying tribute to the graphic Prince began using as his name in 1993 in a testy battle with Warner Bros. Records over ownership of the master recordings of some of his biggest hits.

(AP) - The Latest on President Donald Trump and the weekend's violence and death in Charlottesville, Virginia (all times local): 12:45 p.m. President Donald Trump is saying that "racism is evil" as he condemns the KKK, neo-Nazis and white supremacists as "criminals and thugs."

(AP) - The Latest on President Donald Trump and the weekend's violence and death in Charlottesville, Virginia (all times local): 12:45 p.m. President Donald Trump is saying that "racism is evil" as he condemns the KKK, neo-Nazis and white supremacists as "criminals and thugs."

(AP) - A Pentagon spokesman says the two U.S. soldiers killed Sunday in Iraq were casualties of a U.S. artillery "mishap." The spokesman, Army Col. Rob Manning, said an Army artillery unit was firing on an Islamic State mortar position "when a mishap occurred." He said there is no indication that IS played a role in the deaths.

(AP) - A Pentagon spokesman says the two U.S. soldiers killed Sunday in Iraq were casualties of a U.S. artillery "mishap." The spokesman, Army Col. Rob Manning, said an Army artillery unit was firing on an Islamic State mortar position "when a mishap occurred." He said there is no indication that IS played a role in the deaths.